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    Wildsporty's Avatar
    Wildsporty Posts: 445, Reputation: 38
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    #21

    Aug 2, 2012, 01:49 PM
    They may participate in Social Security, however, their pension is not based on Social Security rates.

    The law required all members of Congress to participate in Social Security as of January 1, 1984, regardless of when they first entered Congress. Because the CSRS was not designed to coordinate with Social Security, Congress directed the development of a new retirement plan for federal employees, called the Federal Employees Retirement System (FERS), which does coordinate a federal pension with Social Security.

    Members of Congress are eligible for a pension at age 62 if they have completed at least five years of service. They are eligible for a pension at age 50 if they have completed 20 years of service, or at any age after completing 25 years of service. The amount of the pension depends on years of service and the average of the highest three years of salary. By law, the starting amount of a member’s retirement annuity may not exceed 80 percent of his or her final salary.

    Not to exceed 80% of their salary? I would like to retire with a pension that is 80% of my salary... most people would.
    ebaines's Avatar
    ebaines Posts: 12,131, Reputation: 1307
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    #22

    Aug 2, 2012, 02:06 PM
    Quote Originally Posted by Wildsporty View Post
    Not to exceed 80% of their salary? I would like to retire with a pension that is 80% of my salary...most people would.
    It's not just congress Check out what the pension plans are for unionized state and federal employees - 80% is not far off. It's not uncomon to have government retirees with pesions that exceed their highest "real" salary, for example by working over-time the last year on the payroll.
    Wildsporty's Avatar
    Wildsporty Posts: 445, Reputation: 38
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    #23

    Aug 2, 2012, 02:10 PM
    Well we are not talking about them here we are talking about Congress. Kind of like when the principal told you we are talking about your actions not Sally's so don't try to pass the blame.

    Congress voted in their pension plan and they are responsible for their actions and any other entity is equally responsible for their actions, but have no influence on Congress.

    Congress needs to be responsible.
    Wildsporty's Avatar
    Wildsporty Posts: 445, Reputation: 38
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    #24

    Aug 2, 2012, 02:16 PM
    Here in Idaho we think a little differently than people do in other parts of the country... Freedom and People's Rights are #1.

    We are responsible people that demand our congressmen be responsible. Our Governor lives in his own home on his Ranch and not in some expensive "Governor's Mansion"

    Idaho Pride! We will never give up our Guns or our Freedom!
    jrmathis129129's Avatar
    jrmathis129129 Posts: 1, Reputation: 1
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    #25

    Aug 3, 2012, 04:20 PM
    Are we rolling down hill like a snowball heading for Hell! I think so... with our leaders we have we soon will be out in the cold. Thanks democats and republicans for all you have done to destroy America and line your pockets!

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